Research Nester published a report titled “Industrial Boiler Maintenance Market: Global Demand Analysis & Opportunity Outlook 2031” which delivers detailed overview of the global industrial boiler maintenance market in terms of market segmentation by boiler type, end user, and by region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.
The global industrial boiler maintenance market is estimated to occupy a hefty amount of revenue by growing at a significant CAGR during the forecast period, i.e., 2022 – 2031, ascribing to the rising use of industrial boilers by several industries, including power, petrochemicals, and food & beverages. Along with these, increasing rate of industrialization, and escalating investments in boiler maintenance in developed and developing countries across the globe are also expected to drive the growth of the market in the forthcoming years.
The market is segmented by boiler type and end user. Based on boiler type, the water-tube segment is anticipated to acquire the largest share during the forecast period in view of the superior efficiency, and ease of handling load fluctuation provided by this type of boiler. Additionally, by end user, the chemicals & petrochemicals segment is projected to grab the largest share over the forecast period attributing to the high utilization of industrial boilers in this industry to produce chemicals, such as industrial gases, alkali and chlorine, synthetic rubber, and synthetic organic fibers.
Geographically, the global industrial boiler maintenance market is segmented into five major regions, namely North America, Europe, Latin America, Asia Pacific, and the Middle East & Africa. Asia Pacific is evaluated to witness noteworthy growth in the market during the forecast period attributing to the rapidly growing industrialization, and rising demand for heat energy among industries in the region. Moreover, the market in Europe is assessed to acquire the largest share over the forecast period on the back of the upsurge in the adoption of boilers in the food & beverages industry in the region.
The research is global in nature and covers detailed analysis on the market in North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa). In addition, analysis comprising market size, Y-O-Y growth & opportunity analysis, market players’ competitive study, investment opportunities, demand for future outlook etc. has also been covered and displayed in the research report.
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Rising Usage of Boilers in a Wide Range of Industries Across the Globe to Bolster Market Growth
Industrial boilers are used by a wide range of industries across the world, including food & beverages, chemicals & petrochemicals and power. These boilers produce steam, which is used to carry out heating processes, that are used for the manufacturing of products. As industrialization is rapidly growing, the demand for industrial boilers is also assessed to grow, which in turn is anticipated to drive significant market growth in the future.
However, high cost of installing industrial boiler is expected to operate as key restraint to the growth of the global industrial boiler maintenance market over the forecast period.
This report also provides the existing competitive scenario of some of the key players of the global industrial boiler maintenance market which includes company profiling of Babcock & Wilcox Enterprises, Inc., General Electric Company, Hurst Boiler & Welding Co, Inc., Mitsubishi Heavy Industries, Ltd., Robert Bosch GmbH, The IBL Group, Thermax Global, WIKA Instruments India Pvt. Ltd., Stork B.V., Harbin Electric Corporation, and others. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global industrial boiler maintenance market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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